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Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
 A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of scrubbers and the benefits of alternative fuel usage. Aside from all of these, there is another reading to this new regulation. New oil products (ultra-low sulphur fuel oil) as well as the much larger quantities of MGO that will be needed from the shipping industry will reshape trade patterns around the globe. The first effect could well be depicted in crude oil trade due to shifts in refinery utilization, said Yiannis Vamvakas, Research Analyst of Allied Shipping in Allied latest weekly research report.
Specifically, demand for light sweet crude oil will move upward as it will be required from the non-upgraded refineries, while it is possible to see a negative trend in the demand for heavy sour grades. The second part is the need for redistribution of the low-sulphur fuels, in order to properly cover the global bunkering markets.
Yiannis Vamvakas further noted that, a side-effect to this could well be the requirement for floating storage for both clean (building of inventories), as well as dirty products (storage of the excess heavy fuel oil produced). Demand for HSFO is projected to recover in the long-term, as scrubber-equipped ships will continue using it. However, given that the IMO expects around 3,800 vessels to be fitted with scrubbers by 2020, it looks as though these vessels will remain a relatively small percentage of the global fleet. Many refineries have proceeded with their investment plans, adding capacity in order to produce more middle distillates, with the International Energy Agency (IEA) forecasting that an additional 7 million barrels per day will come into production by 2023.
However, Yiannis Vamvakas says, there are also several refineries that have not yet fully prepared for the IMO 2020 regulation, possible creating a shortfall of the required fuels in certain regions. All in all, the most modernized refineries with extensive vacuum resid processing capacity will benefit most from the new regulation, as they will be able to produce larger quantities of required fuels, gaining market share in the marine sector. Based on these facts, demand will increase in regions were the more modern refineries reside, modifying current trade routes. According to a Reuters survey, around 66% of 33 questioned refineries will continue produce HSFO in 2020, but 70% of these stated that they will reduce their output. A decline has already been reported in fuel oil inventories, depicting the fact that refineries have started to cut output in anticipation of the regulation. However, it’s worth mentioning that if output cuts prove to be bigger than the consumption fall, prices will see a significant upsurge. With regards to different geographical locations, most of the US refineries have been upgraded by the US shale boom, giving them a head start, but they are still dependent on heavy fuel imports, which is used for blending purposes. This means that further investments will be required for adding de-sulphurisation capacity.
In Europe, the report says, the coastal refineries are better prepared compared to their mainland peers, as their main oil source is crude from North and West Africa, regions with less sour oil. In Middle East and China, most of the refineries do not have the capacity of de-sulphurisation needed to produce the new low-sulphur fuels, making new investments necessary. In almost all cases a significant change is to take place in the shipping industry.
This change can be seen as a threat, an opportunity or as a combination of these two. The modification of crude oil/oil products trade flows should benefit owners and refineries that are flexible and adaptable enough for the new regulations, while it may be a significant threat for market participants that will choose to fall behind their competition Yiannis Vamvakas concluded in his latest report.
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Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal ...
Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It co ...
Monday, 08 April 19
5TH INDIA NUCLEAR NEW BUILD CONGRESS 2019
5th India Nuclear New Build Congress 2019
The congress in Mumbai aims to bring together representatives from governments, regulators ...
Monday, 08 April 19
THERMAL COAL PRICES FALL, INDIAN POWER PLANTS TO SEE LIMITED GAINS - BUSINESS STANDARD
Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from ...
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Showing 1426 to 1430 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- White Energy Company Limited
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Planning Commission, India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
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